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Mortgage Market Update
My Mortgage Company
James Miller
Thursday, August 27, 2026
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How much equity have you built? |
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Hi there,
I wanted to share something that often gets overlooked—the financial progress you're making just by owning your home.
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National Mortgage Rates · August 20, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Building
Your home is doing work for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth. What's interesting is that equity can also work as a financial tool. If you've been in your home for a few years, you may have enough equity to tap into for major expenses, debt consolidation, or even home improvements that add value. It's worth understanding what you have available, especially if life throws you a curveball and you need options. The best time to explore this is before you need it, not after. I'd be happy to walk you through what your equity position looks like and whether it makes sense for your situation. Let's talk about what equity you've built and what options it might unlock for you.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
James Miller
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